RBI fiat on credit flow to SSIs
Mumbai, June 2:The Reserve Bank of India (RBI) has asked banks to strictly adhere to instructions issued on the flow of credit to small scale industries sector (SSIs). The apex bank has directed bank chiefs to personally ensure that these norms are meticulously followed by the branches. The central bank has also asked bank chiefs to issue necessary instructions to their internal inspectors or auditors to check the position with regard to compliance of instructions relating to creation of sub-limits.
Mumbai, June 2:The Reserve Bank has asked banks to assess whether they are affected by the US government’s decision to freeze some accounts at New York-based branches of global banks and seize money, as part of its efforts to choke funding for terrorism.
Bangalore, June 2:AstraZeneca today opened a $ 40-million research facility here. It is the firm’s first such facility outside the US and Europe which will conduct research on tuberculosis and other infectious diseases.
Mumbai, June 2:Sebi has suspended registration of Matharan Securities Ltd, a Calcutta Stock Exchange broking member, for four months from June 19, for delay in delivery of securities.
Dr Reddy’s plan
Mumbai, June 2:The board of Dr Reddy’s Laboratories has approved the merger of its wholly-owned subsidiary, Zenovus Biotech, with the company and closure of its diagnostic business.